The process of application for buying shares of Bajaj Housing Finance begins today, September 9, 2024. The IPO has an OFS of Rs 3,000 crore while Rs 3,560 will be through issue of fresh shares. While the torrent of headlines about this IPO has already indicated the level of excitement it has generated in the market, anchor investors such as SBI MF, Morgan Stanley, Nomura, Goldman Sachs, JP Morgan, Abu Dhabi Investment Authority and the government of Singapore have picked up shares of the housing finance company.
The 16-year-old company will use the IPO proceeds to improve its capital base. It is a non-deposit-taking housing finance company, most of whose customers – as high as 81.7% in the last financial year – are home loan customers. The company also offers loans for renovating residential/commercial assets.
GMP
Apart from the big amount raised from anchor investors, GMP is another indicator of the buzz around the IPO. According to investorgain, the GMP stood at Rs 56.70 close to midnight between September 8 and 9. It was a jump of Rs 3.70 from the GMP of Rs 50 on September 7. The GMP of Rs 56.70 indicated a listing gain of Rs 81%. But it must be noted that GMP is an unofficial estimate.
Price band, minimum lot
The price of one equity share has been priced at Rs price of Rs 66-70. The minimum that an investor has to commit to apply one lot is Rs 14,980, since one has to apply for at least 214 shares. However, a retail investor cannot bid for more than 13 lots, or 2,782 equity shares, which will cost Rs 1,94,740.
Allotment, listing
While the bidding process closes on September 11, allotment will be finalised of September 12, 2024. The refunds will be initiated on September 13, while the listing will take place on September 16.
The company’s revenues for Q1 of FY25, FY24, FY23 and FY22 stood at Rs 2,208.73 crore, Rs 7,617.71 crore, Rs 5,665.44 crore and Rs 3,767.13 crore respectively. The PAT stood at Rs 482.61 crore, Rs 1,731.22 crore, Rs 1,257.8 crore and Rs 709.62 crore in the same periods.
(Disclaimer: This article is only meant to provide information. News9live.com does not recommend buying or selling shares or subscriptions of any IPO and Mutual Funds.)
One of the most discussed public issues of 2024, Bajaj Housing Finance has successfully raised as much as 26.79% of the entire IPO amount of Rs 6,560 crore from anchor investors last week. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
